Living it up ... Former Masterchef contestant turned CEO Aaron Thomas allegedly stole $7.6 million to fund a lavish lifestyle for himself and his girlfriends, including private jets and a luxury yacht. Source: News Limited

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news.com.au

25 Mar 2014

Entertainment

A FORMER Victorian MasterChef contestant embezzled more than $7 million to pay for “a high-class lifestyle for himself and his girlfriends,” including private jets, a luxury yacht, Rolex and Hublot watches, and a Tiffany engagement ring for his Brazilian fiancee, a bombshell new lawsuit claims.

Aaron Thomas, now a 26-year-old playboy Australian mining company CEO, drained English company Oakmont Trading Ltd. of the millions to fund his lavish New York lifestyle over the course of three years beginning in 2010 before bedding down with fiancee Thaiana Rodrigues in a $US14,500 a month Manhattan apartment he rented with company cash, the ore company says in the Manhattan Supreme Court suit, reports the New York Post.

“While Thomas has made some disclosures as to the whereabouts of the misappropriated funds, a sum of around ($US2.5 million) remains unaccounted for,” the suit states.

Seen as a rising star on MasterChef season one, Thomas, who is from Brighton, landed an apprenticeship at judge George Calombaris’ restaurant.

Out of the frying pan ... Former Masterchef contestant Aaron Thomas (right) and Press Club head chef Justin Wise. Thomas embezzled millions to fund a lavish lifestyle, a New York lawsuit claims.Source: News Limited

However, after a fallout with his bosses at his next job at The Gazebo on Arthur’s Seat, Thomas left his cooking ambitions behind and turned to a career in finance.

The court papers paint a stunning portrait of luxury allegedly paid for with the checkbook of a company that shares a name with, but has no connection to Oakmont Stratton, the pump-and-dump brokerage made infamous by the 2013 Hollywood movie The Wolf of Wall Street starring Leonardo DiCaprio.

“During a Caribbean vacation in Turks & Caicos for himself, Rodrigues, and members of Rodrigues’ family, Thomas chartered a luxury yacht and private jet for his travel companions at a cost of over $US30,000, both of which were paid for with Oakmont funds,” the suit states.

Thomas also allegedly spent $US91,000 in company dough in Las Vegas in May 2013, spent $US121,500 on luxury watches made by Jager lecoutre, Rolex, and Hubot, and even paid for “many other flights taken by Thomas’s girlfriends, including Rodrigues, in 2012 and 2013,” the suit states.

Thomas founded Oakmont in the UK in 2010 — the company focuses on iron ore and owns ore operations in Brazil — and over the next few years unloaded about 74 per cent of the company’s stock to investors, the suit states.

The Oakmont board fired Thomas in January 2014 and has launched legal action against Thomas in the UK.

Reached at his Manhattan apartment Thomas told the Post the lawsuit was an attempt by the company board to get his remaining shares. He vowed to file a countersuit but declined to comment further.

Reps for Oakmont did not immediately return a call for comment.

Former CEO ... Thomas stole $7.6 million over three years, with more than $2 million still unaccounted for, ore company Oakmont Trading alleges. Picture: FacebookSource: Supplied

THOMAS ‘PAID FOR IMPLANTS, HAD LUXURY CARS’

Mr Thomas also paid $US20,000 for breast implants for Ms Rodrigues, according to documents attached to his affidavit in the UK court case.

As well as the plastic surgery, he listed paying $10,000 for her son’s school fees in Geneva, bought her a $30,000 Cartier Love bracelet and flights to Paris, Australia, Greece, Japan and St Lucia.

During his period in London, Mr Thomas also had access to a range of high end cars which were later sold, including an Aston Martin, Porsche Cayenne, Audi R8 and BMW X6, the documents state.

The New York law suit, established to support the UK court action seeking a global freeze on assets, alleges Mr Thomas used the Oakmont accounts as a “personal piggy bank” to fund a lavish lifestyle for himself and his fiancee, including a high-priced trip back to Australia.

“A recent investigation conducted by the company, assisted by forensic accountants, has revealed that Thomas used misappropriated Company money to fund a lavish lifestyle for himself and defendant (Thaiana) Rodrigues, his fiancee, all at the expense of the company and its ahareholders,” the New York State Supreme Court statement of claim alleges.

“In particular, Thomas charged Oakmont for a substantial amount of supposed ‘business’ expenses which were, in fact, personal expenses which could have no possible business purpose and for which Thomas produced no or incomplete documentation.”

Thomas left his cooking ambitions behind for a career in finance.Source: HeraldSun

A holiday in Australia with Ms Rodrigues, including first-class airfare for Rodrigues, car rental, and hotels, cost about $53,000, the documents state.

The papers also listed expenditure on luxury yacht, $171,000 Tiffany’s engagement ring and lease of a private jet.

“These are just a few examples of a widespread pattern of misappropriation uncovered by the forensic accountants,” the Oakmont Resources claims state.

“Thomas exerted sole control over the company’s bank accounts and resisted any efforts by other company officers to obtain access to them.

“Thomas used the company bank accounts as a personal piggy bank, withdrawing substantial sums of money and transferring them to his personal accounts and to family and friends.”

The court papers set out what the company claims was the way in which Mr Thomas allegedly fleeced accounts.

EX-CONTESTANT ‘PROVIDED FALSE STATEMENTS’

“Thomas made these transfers under the guise of ‘salary,’ to which he was not entitled, and by classifying significant personal expenditures as ‘Director’s remuneration’ without authorisation or justification.

“Thomas also improperly co-mingled company and personal accounts. He provided the company’s Assistant Controller with purported account instructions for a customer to wire a payment to the company, but the instructions were actually for his own personal account, which caused the customer to pay over $US3 million directly to Thomas, over $425,000 of which he never returned to the company.”

The claims allege Mr Thomas submitted false financial statements in September 2013 which purported to award him a substantial salary that he was not entitled to.

“The Oakmont board of directors never approved the financial statements, yet Thomas signed them as if they had and created a fictitious set of board minutes to reflect a supposed approval that never occurred.”

The Oakmont action claims Mr Thomas then attempted to hide any misappropriation.

“Later, in January 2014 when confronted with his wrongdoing, Thomas engaged in a pattern of deception and fraud to cover his tracks. Thomas purported to justify his claimed ‘remuneration’ based on a made-up ‘Service Agreement’ which was created by him after his misconduct was revealed and backdated in an attempt to justify his actions.”

The company claims its bookkeepers, BDO LLP, has identified Thomas misappropriating approximately $US7 million from the company in the span of less than three years.

“While Thomas has made some disclosures as to the whereabouts of the misappropriated funds, a sum of approximately $US2.52 million remains unaccounted for.”

The US court action follows a UK High Court chancery proceeding against Aaron Jonathan Thomas and Thaiana Rodrigues.

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